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European Stocks Rise as Fed Raises Rates by 0.25%

By Investors Hub

European markets are seeing modest strength during trading on Thursday as traders digest the Federal Reserve?s monetary policy announcement.

While the U.K.?s FTSE 100 Index has risen by 0.3 percent, the French CAC 40 Index and the German DAX Index are both up by 0.1 percent.

Specialty pharmaceutical company Indivior has fallen sharply after cutting its revenue outlook for its opioid addiction drug Sublocade.

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IG Group is also posting a steep loss after the British online financial trading firm said its CEO Peter Hetherington is stepping down.

On the other hand, shares of TUI AG have moved notably higher after the Germany-based travel and tourism company reaffirmed its full-year earnings guidance.

In economic news, survey data from the European Commission showed eurozone consumers confidence weakened in September. The consumer sentiment index declined to -2.9 from -1.9 a month ago, in line with flash estimate.

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Another report from the EU showed that the business climate index remained unchanged at +1.21 in September. Managers’ production expectations as well as their views on the stocks of finished products worsened in September.

In contrast, managers’ appraisals of their overall order books, past production and export order books improved slightly.

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Meanwhile, German consumer confidence is set to improve in October despite political turbulence, survey data from market research group GfK showed.

The forward-looking consumer sentiment index rose 0.1 points to 10.6. The index was forecast to remain unchanged at 10.5 points.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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